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Treasure Global Shares Sink 40% on $2.5 Million Equity Offering

MarketDash Editorial Team
4 hours ago
Treasure Global Inc. shares plummeted over 40% Wednesday after announcing a registered direct offering of 250,000 shares to institutional investors, raising $2.5 million in gross proceeds.

Treasure Global Inc. (TGL) had a rough Wednesday, with shares cratering over 40% after the company announced it's raising some quick cash through an equity offering. Nothing kills a stock price quite like dilution, and investors wasted no time heading for the exits.

The Deal Details

Treasure Global entered into a securities purchase agreement with institutional investors for a registered direct offering of 250,000 shares. The deal is expected to bring in $2.5 million in gross proceeds before deducting placement agent commissions and other expenses.

The offering is set to close on or around December 11, assuming the usual customary closing conditions are met. D. Boral Capital is handling the transaction as the exclusive placement agent.

The company is conducting the offering under its shelf registration statement, which became effective back in March 2024. A final prospectus supplement will be filed with the SEC in due course.

The Market Reaction

Treasure Global shares closed Wednesday down 40.01% at $9.43. The sharp decline reflects the market's immediate response to the dilution that comes with issuing new shares—existing shareholders now own a smaller piece of the pie, and investors clearly weren't thrilled about it.

Back to News

Treasure Global Shares Sink 40% on $2.5 Million Equity Offering

MarketDash Editorial Team
4 hours ago
Treasure Global Inc. shares plummeted over 40% Wednesday after announcing a registered direct offering of 250,000 shares to institutional investors, raising $2.5 million in gross proceeds.

Treasure Global Inc. (TGL) had a rough Wednesday, with shares cratering over 40% after the company announced it's raising some quick cash through an equity offering. Nothing kills a stock price quite like dilution, and investors wasted no time heading for the exits.

The Deal Details

Treasure Global entered into a securities purchase agreement with institutional investors for a registered direct offering of 250,000 shares. The deal is expected to bring in $2.5 million in gross proceeds before deducting placement agent commissions and other expenses.

The offering is set to close on or around December 11, assuming the usual customary closing conditions are met. D. Boral Capital is handling the transaction as the exclusive placement agent.

The company is conducting the offering under its shelf registration statement, which became effective back in March 2024. A final prospectus supplement will be filed with the SEC in due course.

The Market Reaction

Treasure Global shares closed Wednesday down 40.01% at $9.43. The sharp decline reflects the market's immediate response to the dilution that comes with issuing new shares—existing shareholders now own a smaller piece of the pie, and investors clearly weren't thrilled about it.